“With several trade disputes going on, it is even more important than before to defend the multilateral rules-based trading system. Poor developing countries are the biggest losers in the face of growing protectionism,” stressed Minister for Development Cooperation and Foreign Trade Ville Skinnari in his statement at a World Trade Organization meeting in Geneva on Wednesday on 3 July.
“Helping the least developed countries to benefit from open foreign trade and to seize its opportunities is fundamental to Aid for Trade. Trade plays an important role in that it enables developing countries to attain the goals of an independent economic growth and sustainable development,” Minister Ville Skinnari said.
As a positive example, Skinnari mentioned the African Continental Free Trade Agreement (AfCFTA), which entered into force recently. According to the Minister, trade policy questions and support for the economic integration of Africa will be given a central role in Finland’s forthcoming Africa strategy.Finland will bring women entrepreneur into the spotlight
This is the 7th Global Review of Aid for Trade. The meeting will discuss developing country economies’ diversification opportunities and the results of Aid for Trade. Approximately 1,500 delegates from member governments and international trade and development organisations will attend the meeting.
Finland will organise two side events on entrepreneurship, trade and women’s position during the review meeting. Businesses led by women both strengthen human rights and benefit the economy. Thanks to the She Trades initiative launched by the International Trade Centre (ITC), which Finland supports, three million women entrepreneurs will have entered the markets by 2021.
While in Geneva, Minister Skinnari will have meetings with WTO Director-General Roberto Azevêdo and Sweden’s Minister for Foreign Trade Ann Linde and ITC Executive Director Arancha González.